Christmas presents to employees; income tax and fringe benefits tax consequences

Miscellaneous Taxation Ruling MT 2042, which was released on 1 June 1989, considers the fringe benefits tax consequences of employers giving relatively inexpensive Christmas presents to employees.

Draft Taxation Ruling TR 2007/D6 Fringe benefits tax: minor benefits, which was released today, covers the issues considered in MT 2042.

Accordingly, Miscellaneous Taxation Ruling MT 2042 is withdrawn.